StockMarketWire.com - Logica is increasing its full year dividend by 5% to 4.4p per share after posting results in line with previous guidance.

Full year orders were up 13% at £4.6bn, driven by outsourcing orders up 23% at £2.2bn.

Revenue rose 3% to £3.9bn but adjusted operating profit was down significantly on last year at £114m following the impact of the £132m of restructuring and contract charges announced on 14 December.

Chief executive Andy Green said: "2011 was a more difficult year then we had expected.

"While our order book at £4.6bn was strong and revenue was up 3%, restructuring and contract charges resulted in a lower adjusted operating profit.

"Building on our successful long-term relationships with clients, we signed significant orders with clients such as Shell and Michelin.

"We had important wins with new clients such as BAE Systems and the Swedish Pensions Agency.

"The revenue outlook remains uncertain but we are on track in implementing the actions we announced in December.

"As a result, we expect our Benelux business to return to profit in 2012, our Swedish business to deliver an improved margin and our outsourcing business to be strongly competitive.

"Even in tough market conditions, we expect our full year operating margin for 2012 to be above 6.5%."





At 9:54am: (LON:LOG) LogicaCMG share price was +7.65p at 89.05p


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